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Matti

Toying with the idea of a PenFed card

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AAOA: About 3.9 years

 

Latest DCU Fico: 749

 

Multiple cards $10k+

 

Clean EQ Report

 

2 Inqs - Both from Feb 2013. They're stickies from Credco.

 

BUT... (there's always a but)... I have a new-ish auto loan and 3 new cards from Oct - Nov. Opened my CareCredit, Chase SW RR and SSFCU Visa.

 

Thoughts?

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I got my Platinum Rewards card in May 2013.

 

Scores were very close to yours, also all clean.

 

I had seven new cards in the preview six months; highest limit at the time was $15,000.

 

I got approved for $20,000.

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That's my only concern.... The new accounts thing.

 

They denied me when I first opened my account. But that was 16 months ago. Credit limits are much healthier now.

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That's my only concern.... The new accounts thing.

 

They denied me when I first opened my account. But that was 16 months ago. Credit limits are much healthier now.

 

Five of those seven new accounts were in the THREE months prior to getting approved. Wow, I forgot what a tear I was on last year about that time. :D

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You're not going to believe this:

 

During my app spree 2 weeks ago, I score the Penfed Rewards card for 6.5k. Bear with me as to why it's so relevant to your thread.

 

Fico 8 (Merrick bank) 671

EX 702

TU 690 at best

 

No cards above 2.2k

 

14 inquires on all three credit agency

 

Obtained 3 cards in October (2 toy cards and a Barclay card)

 

I ended up with 5 credit cards from different credit unions during my spree. The limits were low and that's understandable due to my bk 2.5 years ago and lot of inquiries. I just needed to get my foot in the door then go gardening. I was surprised that they gave me 6.5k.

 

From my experience alone, and I might just be lucky, you should be able to get 10k+ no problem.

 

Edit: how did you guys get the AAOA? I have to check my equifax report.

Edited by L B

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Length of Credit History: 11 Years, 10 Months
Average Account Age: 5 Years, 3 Months

 

Wow, so they included the accounts I iib, at least according to exquifax. This is great news!

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Didn't even think to check USAA.

 

AAOA is actually 3.6, not 3.9. :D

 

usaaEQAAoA_zpsb08cd811.jpg

 

:good:

 

USAA/CCMP shows the AAOA calculation.

CK's calculation seems to be AAOOA.

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Read up on PenFed. One thing you don't want to do is open a PenFed account with dirty reports.

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I actually think you have a decent shot... the new accounts aren't like from December... if you really wanted to wait though, then I would hold out a few more months for those new accounts to age. But other than that I think you have a good shot.

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I like the idea of a 5% gas card. I'm also interested in that 18 month BT offer. Not sure when my Navy expires.

 

But, on the other hand.... I'm wondering if I'm just bored. And want to apply for something new. :dntknw:

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I like the idea of a 5% gas card. I'm also interested in that 18 month BT offer. Not sure when my Navy expires.

 

But, on the other hand.... I'm wondering if I'm just bored. And want to apply for something new. :dntknw:

 

Idle hands are the devil's workshop.

 

Sometimes CLIs will scratch the itch. Maybe you should try that first. :P

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But then again we got two CLIs yesterday and I am still having a terrible time staying off the phone to apply for that Merrill+ card I've been eyeing...

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It's easy for me to tell SOMEONE ELSE to go for it! :P

 

Let us know how it goes! :D

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But then again we got two CLIs yesterday and I am still having a terrible time staying off the phone to apply for that Merrill+ card I've been eyeing...

 

 

Refer to my "credit withdrawal" thread =D

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I had 2 stuck inq on my EQ, AAOA of 6 years, 5 new accounts in the past 12 months. And was approved for the PenFed Platinum Rewards Visa.

 

 

Sent from my iPhone using Tapatalk

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I think I'm going to try and be patient enough to wait until Friday, when DCU FICO's come out.

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